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AFireInside · 01-21-2009, 11:40 PM

To be honest, CREB is a joke. Everyday for the past several months (about 6) listings have out numbered sales by at least 2 -3 to 1. Since the beginning of January, listings have outnumbered sales most days at least 4 to 1, some days much more. Thing is you can not just look at listings to sales. There is also a category for price changes. (All of which are changes downward these days). Those also outnumber sales by a similar margin.

As far as the spring goes, there is going to be a huge number of listings, and with the economy going the way it is, and people being laid off, there will be far fewer buyers, add to that no more 40 year, 0 down mortgages, and it does not look good for the sellers (those that are looking to flip, or make a lot of money on a recent purchase). People are going to be very cautious when buying.

Honestly I think that we will be looking at drops of at least 15% this year.

As far as listing prices go, I've already seen some houses drop well over 10% from their original listed price.

01-21-2009, 11:40 PM	#517
AFireInside First Line Centre Join Date: Oct 2001 Location: Calgary Exp:	To be honest, CREB is a joke. Everyday for the past several months (about 6) listings have out numbered sales by at least 2 -3 to 1. Since the beginning of January, listings have outnumbered sales most days at least 4 to 1, some days much more. Thing is you can not just look at listings to sales. There is also a category for price changes. (All of which are changes downward these days). Those also outnumber sales by a similar margin. As far as the spring goes, there is going to be a huge number of listings, and with the economy going the way it is, and people being laid off, there will be far fewer buyers, add to that no more 40 year, 0 down mortgages, and it does not look good for the sellers (those that are looking to flip, or make a lot of money on a recent purchase). People are going to be very cautious when buying. Honestly I think that we will be looking at drops of at least 15% this year. As far as listing prices go, I've already seen some houses drop well over 10% from their original listed price. Last edited by AFireInside; 01-21-2009 at 11:42 PM.